Hi, This is a very basic formula i believe but it is giving me incorrect results, i have tried all the things i can think of including the format /decimals of the values ut i have no idea why its giving me incorrect figures.
I could have the whole formulas wrong as im not very goof with excel, any help would be appriciated.
I have attached the sheet- thanks in advance.Comp.xlsx
Hi, welcome to the forum
What exactly do you think is wrong, and what do you think it should be?
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what is wrong with
the the result?
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not sure what you are trying to do ?
can you provide details
the formula is F9/30.416
and you have the number 40 in F9
so 40/30.416 is all I can see ?
Wayne
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hi, thankyou,
Well the sheet is supposed to calculate the number of days between two dates, and calculate the daily charge from the monlthy charge, then multiply the two together, its the total credit amount calculated that s wrong- its always our by a few pence. its currently saying that 1.32 x 41 = 53.92, when the correct answer is 54.12 ? starnge?
Thanks
The value in F10 is £1.315097317201, not £1.32.
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Actually, 1.32*41 is 54.12 not 53.92
However, the contents of F10 is 1.31509731720147 not 1.32, the caculation in your workbook is correct
oh ok, so i just increase the decimal points displayed and itll show the accurate figues its calculating,?
I did say it was a basic one :D
Thankyou
Last edited by jane1613; 12-01-2014 at 06:36 PM.
First, the formula in F10 should be =F9/(365/12) or more simply =F9*12/365, not =F9/30.416. 30.416 is a poor estimate of 365/12.Originally Posted by jane1613
Second, that is not exactly 1.32. Instead, with my correction, it is about 1.31506849315068.
You could round the value in F10 so it matches what is displayed, to wit: =ROUND(F9*12/365,2).
However, in this case, I suspect it is more correct not to round. That depends on company policy.
Finally, in any case, you should round the value in E19, since it is probably a final value to be paid or charged. The formula should be =ROUND(F10*C19,2).
[EDIT] But again, that depends on company policy if the calculated amount is simply posted to an account.
It is a "good practice" to explicitly round formulas with non-integers, even if you rounded F10, when you expect the result to be accurate to a specific number of decimal places.
The reason is complicated to explain. In summary, it is because Excel stores numbers in binary, not decimal. So most non-integers cannot be represented exactly. That causes infinitesimal differences from expectation in arithmetic results.
Last edited by joeu2004; 12-01-2014 at 06:56 PM.
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